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GuideMeSingapore: Singapore Tops the List of Attractive Business Destinations in Asia

Analysis by leading Singapore business information portal GuideMeSingapore highlights the ease of setting up a business in the financial hub compared to larger Asian economies such as China and India.

Singapore (PRWEB) October 30, 2012

Entitled ‘How Key Asian Countries Compare on ‘Ease of Doing Business', the report compares six major economies in Asia - Singapore, Hong Kong, Malaysia, China, Indonesia, and India. The comparison was based on the data presented in the World Bank's recently published Doing Business 2013 report.

Factors that were considered in the comparison were: ease of starting a business, tax policies, trading across borders, investor protection, registering property, and securing construction permits.

The analysis shows that Singapore continues to be the easiest place to do business not only in Asia, but the entire world. Fellow Asian financial hub Hong Kong is the global runner-up, and nearby Malaysia had a healthy improvement over the last year. While Singapore and Hong Kong were “neck and neck” in most of the categories, Malaysia's scale of liberalization is significantly lower, thereby impacting its competitiveness internationally.

China, Indonesia and India on the other hand performed quite poorly in the World Bank's report and conditions for doing business remain very challenging in these countries. For example, India is the second most difficult country to enforce contracts where it takes close to four years to enforce a contract. The report concludes that China, Indonesia, and India need to further develop their processes and infrastructure in order to convince entrepreneurs to make investments in these countries.

“The World Bank's annual Doing Business report is recognized and used by governments and international institutions, and to have Singapore in its top spot for seven consecutive years speaks volumes about just how easy it is to come here and set up a business in Singapore,” said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading company registration services firm and the parent company of GuideMeSingapore.com.

“In Singapore, just about every aspect of doing business is streamlined, cost-friendly, and efficient - thanks to the government's pro-business agenda and flexible immigration policies. Businesses seeking more information on how Singapore compares with the world's other leading business destinations can consult the Research Reports section of GuideMeSingapore.com, which features in-depth comparisons between Singapore and eighteen other countries around the world,” said Ms. Low.